1. Field of the Invention
The invention relates to systems and methods for determining opportunities for providing lower rate loans to borrowers.
2. Description of the Related Art
Lenders typically desire to increase the quantity of loans that they finance. For this reason, some lenders seek to locate loans financed by other lenders and to offer refinance of the loans to their respective borrowers. Thus, lenders may send mass marketing letters, email, etc. advertising their loan rates to large quantities of individuals, hoping that some of the recipients of their marketing materials actually have existing loans to refinance and that the recipients current loan rate is higher than can be offered by the lender. However, this mass marketing approach is costly and results in limited responses. Additionally, the potential borrowers that respond to such mass marketing materials may not qualify for the advertised loan rates or may be entirely unqualified for a refinance loan from the lender.